Download PTU (I.K. Gujral Punjab Technical University Jalandhar (IKGPTU) M.Com 2020 March (Master of Commerce) 1st Sem 75336 Accounting Theory Previous Question Paper
Roll No. Total No. of Pages : 02
Total No. of Questions : 17
M.Com. (2018 & Onwards) (Sem.?1)
ACCOUNTING THEORY
Subject Code : MCOP-104-18
M.Code : 75336
Time : 3 Hrs. Max. Marks : 60
INSTRUCTIONS TO CANDIDATES :
1. SECTION-A contains EIGHT questions carrying TWO marks each and students
have to attempt ALL questions.
2. SECTION-B consists of FOUR Subsections : Units-I, II, III & IV. Each Subsection
contains TWO questions each carrying EIGHT marks each and student has to
attempt any ONE question from each Subsection.
3. SECTION-C is COMPULSORY and consist of ONE Case Study carrying TWELVE
marks.
SECTION-A
Write briefly :
1) Revenue Recognition Principle for services sector
2) Inventory Policy in Inflation
3) Carbon Credit
4) Blockchain Accounting
5) Meaning of Harmonization of Accounting practices
6) IFRS
7) Segment Reporting
8) Web Reporting
SECTION-B
UNIT-I
9) Why Accounting is called language of business? Explain briefly the various accounting
principles and their relevance in accounting system.
10) Explain the nature and scope of GAAP. What are its merits and limitations?
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1 | M-75336 (S32)-1446
Roll No. Total No. of Pages : 02
Total No. of Questions : 17
M.Com. (2018 & Onwards) (Sem.?1)
ACCOUNTING THEORY
Subject Code : MCOP-104-18
M.Code : 75336
Time : 3 Hrs. Max. Marks : 60
INSTRUCTIONS TO CANDIDATES :
1. SECTION-A contains EIGHT questions carrying TWO marks each and students
have to attempt ALL questions.
2. SECTION-B consists of FOUR Subsections : Units-I, II, III & IV. Each Subsection
contains TWO questions each carrying EIGHT marks each and student has to
attempt any ONE question from each Subsection.
3. SECTION-C is COMPULSORY and consist of ONE Case Study carrying TWELVE
marks.
SECTION-A
Write briefly :
1) Revenue Recognition Principle for services sector
2) Inventory Policy in Inflation
3) Carbon Credit
4) Blockchain Accounting
5) Meaning of Harmonization of Accounting practices
6) IFRS
7) Segment Reporting
8) Web Reporting
SECTION-B
UNIT-I
9) Why Accounting is called language of business? Explain briefly the various accounting
principles and their relevance in accounting system.
10) Explain the nature and scope of GAAP. What are its merits and limitations?
2 | M-75336 (S32)-1446
UNIT-II
11) How the accounting treatment of Lease is different from Hire Purchase? Briefly explain
the relevant accounting standard for the same.
12) Why Accounting for price level changes is important? Explain the various methods for
valuation of Assets and Liabilities under Accounting for Price Level Changes.
UNIT-III
13) Write a detailed essay on Harmonization of Accounting Practices.
14) What is the nature and scope of Accounting for Holding Companies? Explain its
accounting treatment and accounting standard related to holding companies.
UNIT-IV
15) What are the scope of financial reporting? Explain the issues in financial reporting.
16) What is Corporate Social Reporting? Examine the recent trends in financial reporting
practices.
SECTION-C
17) Case Study :
The voluntary disclosure of the misrepresentation of financial statements by the
management of the Hasha Ltd in September 2014 impacted the market price of its share,
affecting the investment value of its shareholders. The shareholders expressed resentment
over the negligence of Harsha?s management and filed legal suits against it, demanding
compensation for the losses they had suffered as a result of the financial statements being
misrepresented.
Question :
Examine the importance of accounting concepts and conventions in preparation of
financial statements.
NOTE : Disclosure of Identity by writing Mobile No. or Making of passing request on any
page of Answer Sheet will lead to UMC against the Student.
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This post was last modified on 31 March 2020